Reversal possible as per rules of bank. Request the higher management for reversal. Through court not possible.

the Memorandum of Settlement arrived at on 13.4.1988 under Section 2(p) and Section 18(1) of the Industrial Disputes Act, 1947 read with Rule 58 of the Industrial Disputes (Central) Rules, 1957 between the Management of the Bank and its workmen as represented by the All India United Commercial Bank Employees Federation, Clause 3.8.2 relates to probation and Clause 3.8.3 relates to reversion. Clause 3.8.2 and Clause 3.8.3, which are relevant, read as under :-

3.8.2 Probation:

On promotion to the Officers cadre an employee would be on probation for one year. The period of probation may, if necessary, be extended upto a total period of 2 years in the Banks discretion. Any defects or deficiencies observed during the period of probation shall be brought to the notice of the employee, in writing, so that he may have an opportunity to remove the defects or deficiencies and show sufficient improvement to merit confirmation as Officer. Where, inspite of such opportunity being given to him, he fails to remove the defects or deficiencies and show sufficient improvement and make good as an officer, the Bank, after notice to him will be entitled to revert him to the cadre, to which he belonged prior to his promotion, on the emoluments that he would have drawn, had he not been promoted. 3.8.3 Reversion

(a) Where an employee on promotion to officers cadre refuses the promotion or seeks reversion during the period of probation, he would be debarred for promotion for two years from the date of such refusal/reversion. In such case he would be reverted to his substantive cadre which he occupied prior to his promotion on emoluments that he would have drawn in that cadre as if he was not promoted.

(b) Employee who seeks reversion after the expiry of probation period may be allowed reversion at the discretion of the Bank. In such case the concerned employee shall forfeit permanently his chance for promotion to officers cadre, and shall be posted in the capacity of a clerk, notwithstanding his occupying any functional special allowance post prior to his promotion. His name will be included in the common seniority list of eligible employees in the clerical cadre for selection to functional special allowance posts under Bipartite Settlements after five years from the date of such reversion.

See if the time period is already over then in that case as per rules you cannot claim same as right you can put up a representation before the higher authorities they shall pass appropriate orders as per rules on same. 

You need to apply to the same as if the service rule permits they will absorb you again for the said post

The rules regarding reversion are very clear. Therefore you cannot ask for it now although a mercy petition may be given to the higher authorities so that they may consider your case.

You may go through the service regulations of your bank for the provisions if any to seek for reversal at this belated stage.

If there is no such provision then you may make a written representation to the top management about this and request for the desired reversal of cadre with alternate request to post you to your home town for the reasons you may rely upon.

If your reasons are genuine then the authority may using their discretionary powers, recommend for reversal of your cadre or for alternate request.

Clauses 3.8.2 and 3.8.3 of the Memorandum of Settlement arrived at on 13.4.1988 under Section 2(p) and Section 18(1) of the Industrial Disputes Act, 1947 read with Rule 58 of the Industrial Disputes (Central) Rules, 1957 between the Management of the Bank and its workmen as represented by the All India United Commercial Bank Employees Federation, deal with probation and reversion respectively. They are extracted below:

3.8.2 Probation:

On promotion to the Officers cadre an employee would be on probation for one year. The period of probation may, if necessary, be extended upto a total period of 2 years in the Banks discretion. Any defects or deficiencies observed during the period of probation shall be brought to the notice of the employee, in writing, so that he may have an opportunity to remove the defects or deficiencies and show sufficient improvement to merit confirmation as Officer. Where, inspite of such opportunity being given to him, he fails to remove the defects or deficiencies and show sufficient improvement and make good as an officer, the Bank, after notice to him will be entitled to revert him to the cadre, to which he belonged prior to his promotion, on the emoluments that he would have drawn, had he not been promoted. 3.8.3 Reversion

(a) Where an employee on promotion to officers cadre refuses the promotion or seeks reversion during the period of probation, he would be debarred for promotion for two years from the date of such refusal/reversion. In such case he would be reverted to his substantive cadre which he occupied prior to his promotion on emoluments that he would have drawn in that cadre as if he was not promoted.

(b) Employee who seeks reversion after the expiry of probation period may be allowed reversion at the discretion of the Bank. In such case the concerned employee shall forfeit permanently his chance for promotion to officers cadre, and shall be posted in the capacity of a clerk, notwithstanding his occupying any functional special allowance post prior to his promotion. His name will be included in the common seniority list of eligible employees in the clerical cadre for selection to functional special allowance posts under Bipartite Settlements after five years from the date of such reversion.

your promotion cannot be reverse unless you made a fraudulent play for your promotion.

1. You can make application for reversal of post to higher management of bank and give your representation for need of reversal. 

2. If your representation if effective enough then bank can give you posting near home town with reversal of post.

Ans: 

Write a letter to the main branch of your bank intimating them of these facts, that due to personal reasons you shall not be interested in continuing the new position and shall be seeking a reversal.